Chinese beverage chain Luckin Coffee released its unaudited financial report for the first half of 2021, posting doubled revenue.
Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.
Luckin Coffee is striving for a business turnaround and repairing its image after the April 2020 fraud scandal.
The financial update indicates Luckin Coffee is taking the first step back to normalcy as it prepares for a comeback.
Pinduoduo is under fire again for deleting pictures from a user’s photo album without consent. Luckin opens up to franchises in lower-tier cities.
TikTok is planning to roll out a livestream shopping feature, coffee chain Luckin filed for bankruptcy in the US, Vipshop.com is fined RMB 3 million.
Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.
Alibaba restructures its local services to better compete with Meituan. Nayuki Tea and Dingdong Maicai go public.
ByteDance joins the annual Spring Festival marketing blowout. Alipay prepares for the 2021 red envelope war. Edtech attracts more investment.
JD.com’s logistics arm sets a price target for its IPO. Tencent, JD.com, and Alibaba’s new food recommendation app.